penalty of following Pyat was to get shot like a mad dog, or at best get sent to New Caledonia, quite unnecessarily and uselessly. To put it in terms of Wagner's allegory, Alberic had got the ring back again and was marrying into the best Walhall families with it. He had thought better of his old threat to dethrone Wotan and Loki. He had found that Nibelheim was a very gloomy place and that if he wanted to live handsomely and safely, he must not only allow Wotan and Loki to organize society for him, but pay them very handsomely for doing it. He wanted splendor, military glory, loyalty, enthusiasm, and patriotism; and his greed and gluttony were wholly unable to create them, whereas Wotan and Loki carried them all to a triumphant climax in Germany in 1871, when Wagner himself celebrated the event with his Kaisermarsch, which sounded much more convincing than the Marseillaise or the Carmagnole. How, after the Kaisermarsch, could Wagner go back to his idealization of Siegfried in 1853? How could he believe seriously in Siegfried slaying the dragon and charging through the mountain fire, when the immediate foreground was occupied by the Hotel de Ville with Felix Pyat endlessly discussing the principles of Socialism whilst the shells of Thiers were already battering the Arc de Triomphe, and ripping up the pavement of the Champs Elysees? Is it not clear that things had taken an altogether unexpected turn--that although the Ring may, like the famous Communist Manifesto of Marx and Engels, be an inspired guest at the historic laws and predestined end of our capitalistic-theocratic epoch, yet Wagner, like Marx, was too inexperienced in technical government and administration and too melodramatic in his hero-contra-villain conception of the class struggle, to foresee the actual process by which his generalization would work out, or the part to be played in it by the classes involved?